Eginets Review by professional Forex trading experts the “” FX trading team, Finding out everything you need to know about the broker is in this Eginets Review.

Eginets Review

Eginets is a STP forex broker, which offers three account types. The differences in the deposit requirements, for the different account types, seem fairly balanced, unlike those at other brokers. The company seems to be focusing on Muslim-majority markets, such as Malaysia and Indonesia. Although they don’t clearly state they offer Sharia-compliant (swap-free) accounts, it is likely they do.

The Company. Security of Funds

Company Country Regulation
Eagle International Networks Ltd Belize IFSC

Eginets is registered in Belize and regulated by the local IFSC. We always warn against off-shore companies, as many of them have dishonest practices or are outright scams. That being said, Belize is one of the more credible off-shore zones, when it comes to forex brokers.

As we reiterate in all of our reviews, the legal environment in which a broker operates is a key component of their credibility. Most countries have a special regulatory agency, dedicated to the financial services sector. In Cyprus, for instance, this organ is called the Cyprus Securities and Exchange Commission (CySEC). As the country is a member of the European Union and the MiFID regulatory frame allows brokers registered in one country to operate in the entire Single Market, the island has the attention of many forex brokers. The local regulation requires companies to keep client’s funds in segregated accounts i.e. accounts which the company can not freely access. Furthermore, brokers, regulated by CySEC participate in a compensation scheme. If you trade with such a company and it happens to go bankrupt, your account will be guaranteed up to EUR 20,000.

The regulatory environment in Belize may not be as tough as that in most developed countries, but is still better than what is offered in some other off-shore zones.

One of the rather interesting features offered by Eginets is their copy trade platform. It is similar to the PAMM offerings, which many brokers have. These type of systems basically allow clients to either be an account “master” or an investor/follower. In еssence, the “master” (an experienced trader, seeking extra income) sets a fee for his service, while investors simply link their accounts to him. After that each trade the “master” takes is copied, with the adequate position size adjustment to the investor’s account. After a certain period of time, the fees are deducted from the follower’s account. There are many variations of this investment scheme, with Eginest having its proprietary one.

Trading Conditions

Minimum Initial Deposit

The minimum initial deposit at Eginets is set at $50. This is quite reasonable, for people who are willing to see how trading with real money feels, without risking a large sum. Entry levels get lower and lower, with the development of the industry. One of the world’s leading brokers, IG, has no deposit requirement, meaning you can open an account for as little as you want.

That being said, the minimum initial deposit shouldn’t bother serious traders. A long-term approach to trading demands having sufficient risk capital and being willing to strictly follow your system. The minimum deposit should be used only for testing a broker’s service.

Average spreads & Commissions

Eginets provides floating spreads, which vary a lot, based on the account types. They go as low as 0.6 pips, which is very competitive. On the other hand, our testing showed the spread on EUR/USD never going under 2.0 pips, during the European trading session, one of the most liquid times of the day. This is not good, given the current state of the industry, as most brokers offer something in the 1.0-1.5 pips range for this pair. At this point we aren’t certain which conditions one would receive, after opening a real account. We have set-up a real-time comparison of the spreads, offered by 15 of the leading brokers here.


The leverage offerings also vary, based on your account type, at Eginets. They go from 1:400 all the way down to 1:100. Other brokers who offer 1:500 or even more also only do so for smaller account holders, while limiting the gearing capabilities of larger clients. This is done as a risk management measure.

These kind of leverage ratios may seem absurd to you, if you are used to trading other asset classes. However, they are not that unusual when it comes to retail forex. Some also state them as the primary reason for the fact, most retail traders loose money. Be sure to understand the risks, which margin trading carries, before you place your first real trade.

Trading Platforms

Eginets offers MetaTrader4(MT4) to its clients. This platform has proven itself over the years, with countless brokers choosing to operate with it, instead of developing their own solution. MT4 is great for currency traders, as it has great charting capabilities, lots of custom indicators (and other tools) and a variety of automated trading systems or Expert Advisors, as they are called. There is no FIFO rule, with most brokers, meaning a client can have a long and a short position open in the same instrument, at the same time. Whether or not strategies which involve “hedging” are good is another topic, but at least you can try them with MT4.

The platform also has mobile versions, available both for iPhone and Android, which are quite good in our view. The only major disadvantage which the platform has is the lack of detachable modules. This, in essence, limits the multiple-monitor capabilities.

Methods of Payment

Eginets accepts deposits via Bank Transfer, Credit/Debit card and PayPal. This is rather limited, when compared to other brokers, but at least there is an e-wallet option included.

Eginets is a forex broker regulated in Belize. This may be better than an unregulated company, but there are even better options. That being said, trading conditions is where the situation is rather bizarre. Although the spread shouldn’t be your chief concern, it can add-up, if you are an active trader. The difference between what is indicated on the website and what is offered on the demo version of their platform is huge. At this point we can not guarantee which ones you would receive, when opening a real account.

The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.

Eginets Review Conclusion

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